普华永道：2023年第一季度全球IPO观察报告（英文版）（14页）.pdf

1、Global IPO Watch Q1 2023PwC|Global IPO Watch 2021Headlines2PwC Global IPO Watch Q1 2023The US dropped to third place in terms of IPO proceeds raised this quarter as US and European markets remain quietThree IPOs in the UAE raised$3.2bn,beating the US to second place behind Mainland China.The UK did

2、not make the cut with only two IPOs raising$0.1bn,80%lower than the first quarter of 2022 where 10 IPOs raised combined proceeds of$0.5bn.Mainland China continues to dominate IPOs in Q1 2023 representing half of total IPO proceeds globallyMainland China accounted for 39%of global IPO proceeds in 202

3、2,notably ahead of the US which accounted for just 13%of the total.The Asia-Pacific region dominated IPO issuance this quarter with;Indonesia,Japan,Hong Kong SAR and South Korea all securing their place in the the top 10.Surprisingly,given market sentiment towards the sector,technology IPOs were mos

4、t prevalent in the first quarter of 2023More than 50%of IPOs in this sector were in Mainland China with just one sizable transaction in the US IPOs in the energy and utilities sectors were rife,as would be expected given sector dynamics(e.g.energy transition,commodity pricing)The recent SPAC phenome

5、non appears to be ending as the levels of new SPAC issuance normalises Most of the current SPAC merger activity originates from the massive cohort of SPACs that listed in 2021 as they reach the end of the life.SPACs that have completed their mergers have generally struggled to recover their deal val

6、uation.Elevated interest rates are making leverage transactions less compelling and the dearth of IPOs in the Western hemisphere over the past year are together leading to an increasing backlog of potential IPO candidatesThe key for IPO candidates is to be ready to access the market when markets sta